Wireless communication has increased exponentially over the past few years. Mobile devices such as cellular phones, Personal Digital Assistants (PDAs), tablets, and other wirelessly enabled devices have successfully penetrated and been adopted by the general consumer market. Individuals have come to enjoy the convenience, flexibility and mobility of wireless devices as a means to facilitate communications. Individuals also enjoy the benefits and convenience of having financial accounts, electronic money accounts, general services accounts, or any private or public services accounts, which facilitate their purchasing goods/services, saving money and accessing personal records.
In the case of personal, financial or services accounts with a financial institution or entity, conventional methods of opening such accounts are performed in-person at the financial institution or a branch thereof or are performed online via the Internet. Exemplary accounts may be, but are not limited to, checking accounts, savings accounts, brokerage accounts, and the like. In each case the individual is queried for personal information and requested to manually complete a series of forms either on physical paper or on a computer screen by entering personal data such as name, address, social security number, bank routing data, and the like. These conventional methods, however, are cumbersome and possess a high abandonment rate. Further, individuals may encounter a myriad of problems in opening accounts ranging from the length of time to complete the forms to an unavailability of access to requested information (e.g., bank routing data).
Thus, there remains a need to overcome conventional limitations and provide a system and method to forego requiring an individual to undergo the inconvenience of going to a specific institution to open an account and/or manually fill out necessary information regarding the individual while maintaining a secure and encrypted wireless channel to open the account.